Equinix, Inc. $EQIX Stock Purchased by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 5.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 25,930 shares of the financial services provider’s stock after purchasing an additional 1,427 shares during the quarter. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in Equinix were worth $26,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Van Strum & Towne Inc. acquired a new stake in Equinix in the 3rd quarter valued at about $200,000. Fifth Third Bancorp lifted its position in shares of Equinix by 4.3% during the third quarter. Fifth Third Bancorp now owns 6,283 shares of the financial services provider’s stock worth $6,356,000 after purchasing an additional 261 shares in the last quarter. Aew Capital Management Inc. acquired a new position in shares of Equinix during the third quarter worth approximately $120,698,000. Maryland State Retirement & Pension System grew its stake in shares of Equinix by 14.2% during the third quarter. Maryland State Retirement & Pension System now owns 6,042 shares of the financial services provider’s stock valued at $6,112,000 after purchasing an additional 752 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Equinix by 0.8% during the third quarter. Ritholtz Wealth Management now owns 1,727 shares of the financial services provider’s stock valued at $1,747,000 after purchasing an additional 13 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays raised their price target on shares of Equinix from $1,130.00 to $1,135.00 and gave the company an “equal weight” rating in a report on Tuesday, September 8th. Guggenheim reaffirmed a “buy” rating and set a $1,235.00 price objective on shares of Equinix in a report on Tuesday, October 20th. HSBC decreased their price objective on Equinix from $1,400.00 to $1,380.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Evercore reissued an “outperform” rating and issued a $1,270.00 target price (up from $1,240.00) on shares of Equinix in a research note on Tuesday, August 18th. Finally, Sanford C. Bernstein boosted their target price on Equinix from $1,222.00 to $1,270.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Equinix has an average rating of “Moderate Buy” and an average price target of $1,234.13.

Equinix Stock Performance

EQIX stock opened at $1,072.77 on Friday. The business’s fifty day moving average is $1,018.86 and its 200-day moving average is $1,018.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.59. The company has a market cap of $105.85 billion, a P/E ratio of 64.43, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $0.82. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the firm earned $9.83 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Equinix, Inc. will post 39.01 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be paid a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix’s dividend payout ratio is presently 123.96%.

Insider Buying and Selling at Equinix

In other Equinix news, insider Michael Paladin sold 307 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the transaction, the insider owned 2,450 shares in the company, valued at approximately $2,535,774.50. This trade represents a 11.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher Paisley sold 125 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total value of $137,947.50. Following the transaction, the director owned 13,734 shares of the company’s stock, valued at $15,156,567.72. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 968 shares of company stock valued at $1,007,885. 0.27% of the stock is currently owned by company insiders.

About Equinix

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.